One of the world’s most prominent food and beverage companies is reportedly slashing jobs at its major North American offices.
Hundreds of positions are on the chopping block at PepsiCo’s beverage, snacks and packaged food hubs, according to the Wall Street Journal.
According to a company memo to employees, the cuts would “simplify the organization so we can operate more efficiently.”
The company’s namesake beverage business, headquartered near New York City, will account for more of the layoffs.
The food divisions, based in Chicago and suburban Dallas, previously saw cuts due to a voluntary retirement program.
The Journal suggested that the move reflected growing concerns about economic uncertainty among more major employers.
PepsiCo expects strong yearly revenue numbers amid rising prices, but the company has also said that sales volumes were down in some divisions.
